Massachusetts Financial Services Co. MA bought a new stake in Deckers Outdoor Corporation (NYSE:DECK - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 91,663 shares of the textile maker's stock, valued at approximately $10,249,000. Massachusetts Financial Services Co. MA owned 0.06% of Deckers Outdoor as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently modified their holdings of the company. Mpwm Advisory Solutions LLC bought a new stake in Deckers Outdoor in the fourth quarter valued at $26,000. Headlands Technologies LLC bought a new stake in shares of Deckers Outdoor during the fourth quarter worth about $29,000. Vega Investment Solutions bought a new stake in shares of Deckers Outdoor during the fourth quarter worth about $29,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of Deckers Outdoor by 250.0% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 168 shares of the textile maker's stock worth $34,000 after acquiring an additional 120 shares in the last quarter. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Deckers Outdoor during the fourth quarter worth about $41,000. 97.79% of the stock is owned by institutional investors.
Insider Buying and Selling at Deckers Outdoor
In related news, Director Cindy L. Davis purchased 1,825 shares of the business's stock in a transaction dated Friday, June 6th. The shares were purchased at an average cost of $109.76 per share, for a total transaction of $200,312.00. Following the completion of the acquisition, the director owned 13,340 shares in the company, valued at approximately $1,464,198.40. This trade represents a 15.85% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Angela Ogbechie sold 6,244 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $103.89, for a total transaction of $648,689.16. Following the completion of the transaction, the insider owned 19,980 shares in the company, valued at approximately $2,075,722.20. The trade was a 23.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.40% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on the stock. Piper Sandler lowered their price target on shares of Deckers Outdoor from $210.00 to $100.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Bank of America decreased their price target on shares of Deckers Outdoor from $128.00 to $114.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. Stifel Nicolaus cut their price objective on shares of Deckers Outdoor from $185.00 to $127.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Needham & Company LLC reaffirmed a "buy" rating and issued a $120.00 price objective on shares of Deckers Outdoor in a research note on Wednesday. Finally, Wells Fargo & Company dropped their price target on shares of Deckers Outdoor from $100.00 to $90.00 and set an "equal weight" rating for the company in a research report on Monday. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $132.45.
Check Out Our Latest Stock Analysis on DECK
Deckers Outdoor Price Performance
Shares of DECK stock traded up $2.45 during mid-day trading on Wednesday, hitting $108.14. The company had a trading volume of 3,416,304 shares, compared to its average volume of 2,721,011. Deckers Outdoor Corporation has a 52-week low of $93.72 and a 52-week high of $223.98. The stock's 50 day moving average price is $106.87 and its 200-day moving average price is $131.06. The company has a market capitalization of $16.16 billion, a P/E ratio of 17.05, a P/E/G ratio of 6.93 and a beta of 0.99.
Deckers Outdoor (NYSE:DECK - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The textile maker reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.43. Deckers Outdoor had a net margin of 19.49% and a return on equity of 41.17%. The company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter in the previous year, the business posted $0.82 earnings per share. Deckers Outdoor's quarterly revenue was up 6.5% on a year-over-year basis. On average, equities research analysts expect that Deckers Outdoor Corporation will post 5.89 earnings per share for the current year.
Deckers Outdoor announced that its board has authorized a share buyback program on Thursday, May 22nd that allows the company to repurchase $2.25 billion in shares. This repurchase authorization allows the textile maker to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.
About Deckers Outdoor
(
Free Report)
Deckers Outdoor Corporation, together with its subsidiaries, designs, markets, and distributes footwear, apparel, and accessories for casual lifestyle use and high-performance activities in the United States and internationally. The company offers premium footwear, apparel, and accessories under the UGG brand name; footwear, apparel, and accessories for ultra-runners and athletes under the HOKA brand name; and sandals, shoes, and boots under the Teva brand name.
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